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SMARTCAP Snags Nike Cortez Building in Beaverton
The Cortez Building, a 73,200-square-foot flex warehouse building in Beaverton, was acquired by Seattle-based SMARTCAP for $12.2 million. The property is located at 701 SW 158th Ave. and consists of office and warehouse space that is 100% leased to Nike through April 2025. Nike has leased the property since its delivery in 1994.
SMARTCAP’s Tim Shoultz says, “We are excited to enter the Portland market with a great acquisition. Our current focus is on industrial assets and we’re hoping to build a sizeable portfolio in this market over the coming years.”
Kidder Mathews’ Keith Young along with The Mehigan Company’s Denis Mehigan represented the buyer.
Young says, “This is their [SMARTCAP’s] first investment in the Portland area and a sign that the market is turning back up.”
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition
